SubDisciplines covered

Marketing can be defined as the procedure of communicating the value of a product/service to different customers, in order to sell the product/service. Marketing is crucial for attracting customers. Marketing is a management process through which goods/services are moved from the concept to the customer. The coordination of four elements called the 4 Ps of marketing are included and play a major role. The 4 Ps are:

Product : Product Identification, Product selection and development

Price: Determination of the products price

Place : The selection of distribution channel to reach the customers location

Promotion: This includes strategy development and strategy implementation

Marketing Activities

Marketing includes mainly the following activities.

Designing the product is a marketing activity done by using tools such as marketing research and pricing so it is desirable to customers in some sort of way.

Product promotionis a marketing activitydone by using tools such as public relations, advertising, and marketing communications so people are aware of the product.

Setting a price, allowing potential customers to know about the product and making it easily available to them.

Marketing Sub-disciplines:

The different approaches to marketing include:

Relationship marketing/Relationship management: In this marketing approach, the emphasis is given to the whole relationship between the suppliers and the customers. The aim here is to ensure that the best possible customer service is given and customer loyalty is built.

Business marketing/Industrial marketing: In this marketing approach, marketing takes place between the businesses. The focus lies on industrial goods/capital goods rather than on consumer products. Promotion, advertising, and communication etc different forms of marketing activities are used.

Societal marketing : This marketing approach contains qualities similar to marketing orientation but ensures that nothing is harmful to the society in terms of product, production, or selling techniques.

Branding: This is a marketing approach where marketing is an instrument of the brand philosophy.

Market Research

Market research is the latest sought after area in marketing. There are two ways in which Market Research can be implemented.

Primary research: It is also known as field research, and involves the compilation of research for a particular purpose.

Secondary research: It is also referred to as desk research and is initially conducted for a single purpose, but is often used to support another purpose/end goal.

Other forms of market research include :

Exploratory research: This form of research pertains to research that investigates an assumption.

Descriptive research: This type, as the term suggests, describes "what is".

Predictive research: This research is conducted to predict a future occurrence.

Conclusive research: This form of research is conducted for the purpose of deriving a conclusion through a certain research procedure.

Top Universities for marketing:

Journals are the best published ones across top class universities in the world. The best marketing universities are as follows: